Results 1 to 14 of 14
  1. #1
    Joined
    May 2002
    Location
    Connecticut
    Age
    68
    Posts
    12,900

    Question $500,000 Castles?

    Is it just me? Or is it a sign of the times. Here ,in my town, every new house built, is a monster in the $350,000 -$1,000,000 range.Looking around at the vehicles around me I am beginning to see $60,000 and up cars on the road. Rents are boarding on the ridiculous $900 and up for most of the apts around here. and there are very few affordable rents available Even the new senior citizens complex prices start at $200,000 for a stinking condo. I wonder how long it will be, before they rename the whole state Greenwich. Are these same things happening in your town.?BD51
    http://forums.pcper.com/trading.php TRADING RULEZ!! BIGDADDY51 I've joined the QUAD CROWD! ASUS M3A78 & a 9850

  2. #2
    Joined
    Jul 2003
    Location
    MD/PA
    Age
    30
    Posts
    1,408
    Some house down the street sold for $500,000+. Our house value has increased by ~$100,000 since we built it 4 years ago. I see a lot more BMWs and Benz's here at my HS than I should.



  3. #3
    Joined
    Nov 2001
    Location
    Big Sky, U.S.A.
    Posts
    3,250
    Whats the deal with Guv of yours? I saw him begging for public mercy on C-span today.
    "It is an unfortunate human failing that a full pocketbook often groans more loudly than an empty stomach."
    Franklin D. Roosevelt
    heat


  4. #4
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    20,453
    There's a movement towards larger homes today, especially for those who can afford it. The economy has a lot to do with it, but so does peoples' tastes. People who are having homes built are simply asking for more and more features to be incorporated in them and looking for larger spaces.

    Media rooms, elevators, lavish outdoor cooking centers, powered boat lifts, elevators, three to five car garages, elaborate kitchens, twenty foot tall Living Rooms, curved staircases... those are all things that have become "normal" to a fast growing audience.

    When I moved up here to the Sierra, the homes I designed were 1500 to 2500 square feet and worth $250,000. tops.

    The homes I'm doing now are 3500 to 8000 square feet and cost $150. to $280. per square foot to build, not including the property and landscaping.

    There's just one heck of a lot of money in people's hands and they love spending it on homes. Ya really can't blame 'em. It's usually a great investment and the CEO won't run off with their money.

  5. #5
    Joined
    Feb 2003
    Posts
    6,871
    well this doesn't happen in my town at all..my dad actually "constructs" affordable housing( most are under 150,000)for a while house...not the biggest or best but it works!!!a walmart came in here tho and kinda ruined all the mom and pop shops and they just got rejected for a larger lot(2.5X bigger!!) the city turned them down because the towndoesn't "fit it" with the wallmart style!! i love my town!!! i do see fancier cars around but mostly just tourists out from portland...

  6. #6
    Joined
    Mar 2001
    Location
    Peoples Republic of Kalifornia
    Posts
    14,684

    Re: $500,000 Castles?

    Originally posted by BIGDADDY51 on 01-07-2004 at 01:31 PM
    Is it just me? Or is it a sign of the times. Here ,in my town, every new house built, is a monster in the $350,000 -$1,000,000 range.Looking around at the vehicles around me I am beginning to see $60,000 and up cars on the road. Rents are boarding on the ridiculous $900 and up for most of the apts around here. and there are very few affordable rents available Even the new senior citizens complex prices start at $200,000 for a stinking condo. I wonder how long it will be, before they rename the whole state Greenwich. Are these same things happening in your town.?BD51

    If you think that is expensive, try moving out here to California!

  7. #7
    Joined
    Feb 2002
    Location
    Plainfield, IL
    Posts
    5,177
    People around here are buying bigger and bigger houses too, on smaller and smaller lots. I dunno, I guess outside is too scary so parents want their kids to run around in large playrooms? Whatever.

  8. #8
    Joined
    Aug 2001
    Posts
    74,682
    Agree with Andrew about socal. Also consider...these arent "starter" homes. Alot of these folks have dumped the old house and realized a substantial gain. Easy way out? Build a new one of greater value.

  9. #9
    Joined
    May 2002
    Location
    Connecticut
    Age
    68
    Posts
    12,900
    Originally posted by DHutson on 01-07-2004 at 08:17 PM
    Whats the deal with Guv of yours? I saw him begging for public mercy on C-span today.
    He got caught with his hand in the cookie jar. Large construction firms doing work on his summer home ,and then they get gov. contracts etc. that sort of thing. He may well be leaving office after the feds get thru with him.It's to bad to, he has done a lot of good for the state. BD51 JZ; these are new people coming to town,not local people, building new houses. I tend to think that maybe plans for the new Casino in the next town has a lot to do with it. It is not approved yet, but I think it's only a matter of time. There's a lot of GOOD OLD BOY politics going on here,too.Zoning changes reflect this, suddenly, you need 21/2 acres to buid a house. Guess who owns most of the land in town? $40,000 an acre, so it's $100,000 just for a building lot. Most variances are shot down. We wouldn't want a $150,000 house next to our $500,000 home would we?
    Last edited by BIGDADDY51; 01-08-2004 at 09:49 AM.
    http://forums.pcper.com/trading.php TRADING RULEZ!! BIGDADDY51 I've joined the QUAD CROWD! ASUS M3A78 & a 9850

  10. #10
    Joined
    Mar 2003
    Posts
    4,555
    I don't know how it is where you live, but around here in Maryland
    we have those 500k plus houses going up everywhere.
    The problem is, almost all of them are total junk.

    After just two years the 700k house down the street had to be
    half gutted to have the living room floor strengthened. The
    builders tried to increase their profit by putting fewer floor joists
    than what's required for the square footage.

    A friend of mine bought a new Townhouse a few years ago
    and had to dig up the foundation in front because they
    didn't seal the walls properly. It was less than a year old
    and the basement flooded at the slightest rainfall.
    Then there was the poor plumbing that burst, and the
    faulty wiring.
    Another friend had to have the roof of their new house
    redone when they sold it because the builders neglected to use
    the legally required type plywood.

    These types of problems are common.
    NV and Ryland homes have similar complaints against
    them all the time.
    I don't know how they get away with it.

  11. #11
    Joined
    Feb 2002
    Location
    Plainfield, IL
    Posts
    5,177
    Originally posted by Susquehannock on 01-09-2004 at 06:54 PM
    A friend of mine bought a new Townhouse a few years ago
    and had to dig up the foundation in front because they
    didn't seal the walls properly. It was less than a year old
    and the basement flooded at the slightest rainfall.
    I dunno about the rest of that stuff, but the foundation 'problem' was probably a design that your frined didn't know/wasn't told about. Nowadays they use a quick drying concrete to get houses up faster, but the chemicals they use to speed up drying weakens the material. It is almost guaranteed to crack 1-2 times in the first 2 years. All you have to do is call the contractor and they come out and fix it free of charge.

    I beleive the rest though, there are many shady contractors out there with hundreds of ways to save a buck, at the buyers expense.

  12. #12
    Joined
    Nov 2001
    Posts
    2,408
    I don't think I'll ever be able to afford a castle, real or imagined. . .maybe a rented one. Anyway, I just noticed at the bottom of the main forum page:

    Happy B-Day B-Daddy53
    Epox 8RDA w/ 512 MB TwinMOS PC3200 (2x256MB)-=-Athlon XP 1700+ JIUHB:0310WPMW @ 2,305 (1.775v) 11.5 x 200 FSB-=-Antec ATX12V 400W PSU-=-Sapphire Radeon 9700 Pro @ 412/358-=-SB Live 5.1-=-Linksys NIC-=-Pioneer DVD-ROM drive-=-WD 'SE' 80GB-=-Chieftec Case w/ four 80 mm fans-=-WinXP Pro

    Watercooled: D-Tek White Water-=-DD Maze4 GPU-=-1972 Chevy K10 Pickup heatercore-=-2x120mm Evercool fans-=-HydorL30-=-1/2 ID Clearflex60-=-Zerex coolant

  13. #13
    Joined
    Jul 2002
    Posts
    5,438
    Originally posted by Andrew LB on 01-07-2004 at 05:53 PM
    If you think that is expensive, try moving out here to California!
    Originally posted by Andrew LB on 01-07-2004 at 05:53 PM
    If you think that is expensive, try moving out here to California!
    Exactly. I hear of home prices and rent prices in other places and to me it sounds cheap like hell.

    You'd be lucky to find a nice apartment for less than $1,000 a month here in San Francisco. Homes prices are no better.



    Ring ring ring ring ring ring ring Banaaaaana phone




    Last edited by a cat : yesterday at 05-11-2004 at 11:09 AM

  14. #14
    Joined
    Mar 2002
    Posts
    1,074

    Re: $500,000 Castles?

    Originally posted by BIGDADDY51 on 01-07-2004 at 04:31 PM
    Is it just me? Or is it a sign of the times. Here ,in my town, every new house built, is a monster in the $350,000 -$1,000,000 range.Looking around at the vehicles around me I am beginning to see $60,000 and up cars on the road. Rents are boarding on the ridiculous $900 and up for most of the apts around here. and there are very few affordable rents available Even the new senior citizens complex prices start at $200,000 for a stinking condo. I wonder how long it will be, before they rename the whole state Greenwich. Are these same things happening in your town.?BD51
    Dude, you are in Connecticut, like the single richest state in the country. What part of the state are you in ?

    I'm originally from Washington, in the Litchfield Hills, yuppie land if there ever was one. Houses there regularly sell for $1 M and up.

    I now live in Central NY, in Syracuse. Here you can buy or build a 3500 square foot mansion for $300,000. Same house in CT goes for over a Mil.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •